Forma Real Estate Funds’ Post

Cushman & Wakefield’s recent report, ‘Rethinking European Offices 2030’, touches on the efficacy of repositioning and repurposing office space through strategic renovations to elevate market appeal. At Sirius, the transformation of assets is fundamental to our business model and it’s welcome to see our approach to enhancing rental and capital through asset transformation recognised as a key driver of growth across the European real estate sector. You can read the full report, follow this link: https://lnkd.in/g5ZG3PEz #SiriusStrategy

Good morning. Here’s your daily round-up of the latest news and views from EG, all perfectly curated to set you up for the day ahead. Israel-based Forma Real Estate Funds has become the latest investor to show its growing confidence in the UK’s regional office market. The investor is under offer to buy M&G’s Two Snowhill office tower in Birmingham in a circa £100m deal. The 310,000 sq ft building was put up for sale through JLL earlier in the year. It is let to law firm Gowling WLG and HS2 Ltd. The deal comes as figures from Savills show increasing activity in the regional office market. So far this year, more than £2bn has been invested in offices outside of the capital, a 7% increase on 2023. And with a further £542m under offer and £482m launched to market, the agent is confident 2024 will finish comfortably up on 2023 – albeit still some 50% down on the five-year average. Overseas investors are making up the bulk of activity in the regions, accounting for 44% of all transactions signed so far, said Savills. This is forecast to continue to grow, with activity expected to be driven by French funds and Middle Eastern capital. Elsewhere, GPE has actioned its £1.6bn investment plan, buying a 20,000 sq ft flex office in Fitzrovia from British Land. The group has paid £19m for 19-23 Wells Street, W1. The property is run under BL’s Storey brand but will be converted into GPE’s fully managed offering. The building is within walking distance of several of GPE’s other sites, including Wells & More, Elsley House, Kent House and 7-15 Gresse Street, adding to its cluster in Fitzrovia. Student accommodation developer Fusion Group has hired two external advisers, including BlackRock’s former global head of real estate, and promoted two of its existing team. The company has named Marcus Sperber who was BlackRock’s head of real estate until setting up his own investment and advisory business, NorthCroft Capital and Nick Doffman, a partner of 30 years at Mishcon de Reya LLP and formerly its head of real estate, as advisers. All that and so much more in your daily EG MORNING NEWS ⬇️⬇️⬇️ https://lnkd.in/eUQ7STPi

What's your strategy to attract tenants to your offices? Exciting news! 🌟 We have just published an insightful blog outlining three key strategies to attract tenants to commercial properties. Whether you're a property owner or in real estate, this is a must-read. Check out the blog to learn more and enhance your commercial property management skills! If you want to discuss your office's - just give me a shout. 07385 979 508 - trevor.shephard@woodhouseworkspace.com Woodhouse Workspace Emily Worrod #RealEstate #CommercialProperty #PropertyManagement #TenantAttraction #EmptyOffices

Is it time to buy office? Selectively perhaps! The thematic of ‘flight to quality’ has long been a driver of office demand. This has never been more true than now, as occupiers actively seek assets and managers that are differentiating their office space. Digging deeper into the Property Council of Australia numbers, together with the latest round of office valuations, there certainly appears that there will be some (albeit limited) good office investment opportunities in the near future. Interesting to note that some of the best performing office funds over the last 10 years were built on strategic acquisitions post the GFC - So knowing when to re-enter has its rewards. Asset selection and knowledge of each market will of course be critical in picking the winners and the losers. #office #investment #commercialrealestate #property

A newfound clarity around companies’ office strategies has seen under-offer leasing deals jump in the first three months of 2024, according to new analysis from CBRE. Rob Madden, head of London investor leasing and occupier brokerage, said: “These deals under offer demonstrate the more confident market sentiment, particularly towards the ever-decreasing pipeline of grade-A space, as occupiers have more clarity around their office strategies. This resurgence in activity and the competition for the very best space will translate to the take up figures as we progress into Q2.” More here in EG. https://lnkd.in/eHst___h

J.P. Morgan has secured £131.4 million in Class B and Class XC notes to support Brookfield's project to redevelop the Milton Gate office. This investment is part of a comprehensive plan to revitalize this prime office space in London. The goal is to modernize the building, making it more attractive and functional to meet current market needs.

top six cities of the country have witnessed a five-fold increase in green-certified office buildings since 2010, led by an increased focus on sustainability and health and wellness. As of 2023 end, about 432 msf of Grade A office stock in the top six cities of the country accounting for about 61% share is green certified. This underscores increasing preference for green real estate portfolios for developers, occupiers and investors alike.

St Kilda Road office building sold by JLL A 9,128sqm office building, located at 432 St Kilda Road, Melbourne sold to Marwood Property Group, negotiated by JLL’s Josh Rutman, Tim Carr and Piper Dedrick. “This landmark sale highlights the compelling opportunities within in the Melbourne office market for those willing to look beyond the current challenges facing the sector,” said Josh Rutman,, Head of Capital Markets – Victoria. Tim Carr, Associate Director, Office Investments, highlighted that this transaction exemplifies the market's growing trend toward countercyclical investments in Melbourne, driven by the compelling returns exceeding 15 per cent available from day one. Read more on COMMO > https://lnkd.in/gN6qjtcy Josh Rutman MingXuan Li 李名轩Piper Dedrick Sandra Tan Jesse Radisich Maddie Pizzey Tim Carr Chloe Davidson Luke Duncan Mark Stafford Alejandra Pinzon Mia Raymond #JLL #jllaus #jllnews #melbournerealestate #melbournemarket #melbre #commercialrealestate #commercialinvestment #commercialmarket

Two prime Newcastle office assets sold to RF Corval - Colliers Two adjoining office buildings on Honeysuckle Drive, sold by Colliers agents Matthew Meynell, Peter Macadam, James Girvan and Catherine Scott. We experienced strong interest from both local and offshore parties throughout the campaign, with active capital particularly focused specifically on office assets with value-add potential, allowing them to leverage different strategies specific to the property and market,” Mr Matthew Meynell said. “Considered the global gateway for Northern NSW and with approximately $6.5 billion in infrastructure both planned and underway, Newcastle has all the fundamentals of a thriving global economy with this deal evidence of continued support and investment in the city’s commercial office market,” Mr Macadam added. “In the case of 26 & 28 Honeysuckle drive, the asset’s build quality, blue-chip occupiers offering attractive yield that was a major drawcard for investors looking at this opportunity,” Ms Scott said. RF CorVal’s CIO Oliver Picone said, ”We have been selectively bidding on office assets as the market starts to bottom out and vendors become more realistic. The attraction of 26 & 28 Honeysuckle was the strong existing tenancy profile, high yielding nature of it and ability to add value through active asset management. We are also looking to eventually realise each building individually to enhance liquidity. We have a strong track record in similar office assets and believe the Newcastle market has held up reasonably well post covid, incentives in particular are largely under control.” Read more on COMMO https://lnkd.in/ggYS_Rj8 Rob Rayner Anna Cruse Con Tsioulos Tim Nation Sarah Marsh Sanjeev Sahota Benn Vicic Sean Burnell Gareth Dingle Michael Hua #newcastle #office #officebuilding #officeinvestment #realestateinvestment #colliers #RFcorval #propertyinvestment #officeleasing #officedevelopment

With office investors starting to take interest in some of the sales that have emerged in San Diego recently (like Hazard Center, Sky Park Office Plaza and Symphony Towers), I was posed an interesting question in a meeting last week – “which submarkets are benefiting the most from tenant activity?” In order words, which submarkets are seeing the strongest leasing activity from tenants, and should I consider investing in there? Over the last 4 years, there’s been a noticeable uptick in leasing volume across the board and many of our market discussions circle around tenants playing “musical chairs”.   The flight to quality is at the forefront of many of the conversations, but there’s an interesting migration pattern that’s emerged in San Diego which has been pointed out by JLL Research. Over the last 4 years, there are some clear winners and losers and here they are...